Firmtech Aluminium Pty Ltd v Xie; Zhang v Xu; Xie v Auschn Conveyancing & Associates Pty Ltd (No 2) [2024] NSWSC 1427

Supreme Court New South Wales

Medium Neutral Citation: Firmtech Aluminium Pty Ltd v Xie; Zhang v Xu; Xie v Auschn Conveyancing & Associates Pty Ltd (No 2) [2024] NSWSC 1427 Hearing dates: 6 November 2024 Date of orders: 12 November 2024 Decision date: 12 November 2024 Jurisdiction: Equity - Corporations List Before: Nixon J Decision: See [46] Catchwords: REMEDIES – breach of statutory and fiduciary duties by officers of corporation – election between equitable compensation and account of profits – time for making election – where further information required to make election Legislation Cited: Corporations Act 2001 (Cth), s 233 Cases Cited: Acme Office Service Pty Limited v Ludstrom [2002] NSWSC 277 Artistic Builders Pty Limited v Elliot & Tuthill (Mortgages) Pty Limited [2002] NSWSC 16 Campbell v Backoffice Investments Pty Ltd [2008] NSWCA 95 Campbell v Backoffice Investments Pty Ltd (2009) 238 CLR 304; [2009] HCA 25 Dr Martens Australia Pty Ltd v Bata Shoe Company of Australia Pty Ltd (1997) 75 FCR 230; [1997] FCA 50 Firmtech Aluminium Pty Ltd v Xie (No 2) [2022] NSWSC 1142 Firmtech Aluminium Pty Ltd v Xie; Zhang v Xu; Xie v Auschn Conveyancing & Associates Pty Ltd [2024] NSWSC 1293 Henley Constructions Pty Ltd v Henley Arch Pty Ltd [2023] FCAFC 62 Hexiva Pty Ltd v Lederer [2006] NSWSC 318 LED Builders Pty Ltd v Eagles Homes Pty Ltd (1996) 70 FCR 436; [1996] HCA 1658 Meehan v Glazier Holdings Pty Ltd (2002) 54 NSWLR 146; [2002] NSWCA 22 Personal Representatives of Tang Man Sit v Capacious Investments Limited [1996] 1 AC 514 Category: Consequential orders Parties: Proceedings 2022/221710 Firmtech Aluminium Pty Ltd (First Plaintiff) Zhaohui Xu (Second Plaintiff) Xiaoyan Xie (First Defendant) Jiamin Zhang (Second Defendant) Firmtech Aluminum Pty Ltd (Third Defendant) Logikal Façade Solutions Pty Ltd (Fourth Defendant)